WELL Health Technologies

WELL Health Technologies is a multichannel digital health technology company and Canada's largest owner and operator[5][6] of outpatient health clinics.[7][4] The company owns and operates primary healthcare facilities in Canada and The United States and also provides (SaaS) EMR services to clinics and doctors across Canada. Well Health Technologies is publicly traded on the Toronto Stock Exchange under the symbol WELL.TO.[8] Hamed Shahbazi has served as the company's CEO since its foundation in 2010.[9]

WELL Health Technologies
Typepublic company
TSX: WELL[1][2]
IndustryHealthcare
Founded2010
FoundersHamed Shahbazi
Headquarters
Vancouver, British Columbia, Canada
Area served
North America
Key people
Hamed Shahbazi (Chairman and CEO), Eva Fong (CFO), Chris Ericksen (Vice President)[3]
Servicesprimary healthcare, EMR, cybersecurity, patient-to-physician teleconferencing, medical appointments
Revenue$569 million (2022)[4]
Number of employees
2400+
Websitewww.well.company

WELL Health Technologies company was established in February 2018 with the main offices based out of Vancouver, British Columbia, Canada.[1] The company's founder and CEO is Hamed Shahbazi, previous CEO of TIO Networks,[9] which was acquired by PayPal for $304M in 2017.[7][10] The company's business activity has been mostly in the domain of telemedicine, such as teleconferencing, clinical database management, electronic medical records (EMR), cybersecurity, billing, digital apps, and more.[1][7] The company mainly operates in Canada and United States. WELL Health Technologies first went public in January 2020 on Toronto Stock Exchange.[11] Similar to many telemedicine companies, WELL Health Technologies experienced a rapid growth during the COVID-19 Pandemic.[9][12][13] Its shares rose from $1.80 in January 2020 to the peak of $9.20 per share in February 2021, returning to the $3.00 range by 2023.[1][4][14] In April 2021, the company was subject to a "short-seller attack" based on claims made by an anonymous author. Two weeks later, the same publication that published the report, issued a rebuttal of the article.[15]

Mergers and acquisitions

WELL Health Technologies has expanded through a number of mergers and acquisitions including the US-based CRH Medical Corp (2021),[5][4][10] and ExecHealth (2021),[16] Intrahealth Systems[17] among others. A number of sources reported that Well Health Technologies is set to acquire Toronto-based MyHealth Centres,[18] which will add 48 clinics to the company's network.[19][20][21]

See also

References
  1. "WELL Health Technologies Corp". MarketWatch. 9 August 2023.
  2. "WELL Health Technologies Corp (WLYYF)". NASDAQ.
  3. "The Company's Team". Official Website of the Well Health Technologies.
  4. "WELL Health Technologies Stock Making Waves". Benzinga. 18 May 2021.
  5. "How WELL Health Technologies is Building the Medical Platform of the 21st Century". Science Times. 26 May 2021.
  6. "WELL Health Acquires MyHealth To Become Largest Outpatient Medical Clinic Provider". TechCouver. 8 June 2021.
  7. "International WELL Health Technologies Corp. WELL.TO". Reuters.
  8. "WELL Health Technologies Stock Making Waves". Benzinga. 18 May 2021.
  9. "Digital Doctors: How WELL Health Technologies is Disrupting the World of Telehealth facebook". Tech Times. 2 June 2021.
  10. "How WELL Health Technologies (TSX: WELL) Is Shaping The Future Of Healthcare". Seeking Alpha. 22 May 2021.
  11. "WELL Health Technologies Corp. WELL (Canada: Toronto)". Wall Street Journal Markets.
  12. "B.C. technology sector gets COVID boost". Business in Vancouver.
  13. "WELL Health, Trillium Therapeutics and Andlauer: 3 Hot COVID Stocks to Watch Out for in September". Kalkine Media.
  14. "WELL Health Posts 150% Revenue Growth In 1Q; Shares Drop 4%". NASDAQ.
  15. "WELL HEALTH TECHNOLOGIES BRUSHES OFF SHORTS". ValueWalk. 6 May 2021.
  16. "WELL Health Closes ExecHealth Acquisition". NASDAQ - Stocks.
  17. "Canadian provider WELL Health Technologies snaps up EHR-focused Intrahealth Systems". MobileHealthNews. 5 April 2021.
  18. "Well Health signs deal to buy MyHealth Partners in deal worth up to $266.3 million". BNN Bloomberg. 7 June 2021.
  19. Morgan, Geoffrey (7 June 2021). "WELL Health to buy MyHealth in deal that will create Canada's largest network of private-sector medical clinics". Financial Post.
  20. "Well Health signs agreement to acquire MyHealth Partners". Hospital Management. 8 June 2021.
  21. "WELL Health Acquires MyHealth To Become Largest Outpatient Medical Clinic Provider". Techcouver. 8 June 2021.
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